Crypto Community Attacks Democratic Presidential Candidate Yang For Claiming “Cash is King”
The Democratic presidential candidate for the U.S. elections Andrew Yang has been attacked by the cryptocurrency community after saying on Twitter that “Cash is king.” Yang was a respected individual among technologists and the Bitcoin community, however, this has changed.
Andrew Yang Generates Controversy Among Crypto Enthusiasts
The cryptocurrency community is currently following which are going to be the candidates for the U.S. presidency and which are their proposals related to the cryptocurrency market. Andrew Young, who seemed a moderated candidate to represent crypto interests as a Democrat has gained several crypto haters after a tweet that he wrote a few days ago.
Cash is king.
— Andrew Yang🧢 (@AndrewYang) May 22, 2019
After this comment that he gave, several users commented saying that Bitcoin is the king and the “emperor.” Moreover, there were some users that said that a society without virtual currency is a cashless society surveilled.
At the same time, there were several comments that showed disbelief and their position against the comments that Mr. Yang gave on Twitter. Yang is also working for a Universal Basic Income (UBI), which is a very controversial topic. He said that every single American adult is going to be awarded $1,000 a month for doing nothing. According to him, this is going to protect workers against AI and robots.
Nonetheless, there are Bitcoin supporters that believe that his policies will create high inflation rates and a constant loss of value for the US dollar. The recognized investor Max Keiser came out in support of Yang saying that the policies that Yang wants to implement are going to drive the adoption of Bitcoin as a store of value.
Yang has also informed that if he were elected, he would adopt clear federal regulations such as the one implemented by the state of Wyoming and the Token Taxonomy Act. Moreover, he will also be abolishing the New York BitLicense.
Another candidate for the U.S. presidency is John McAfee. He said that he would be implementing different blockchain solutions and improvements in the government. McAfee is a strong supporter of digital assets and he would clearly support them as a president.